
Originally Posted by
Highlander
Looking for advice for anyone with experience dealing with older model cars and teenage drivers.
A few weeks ago my eldest son had a wreck in our spare car, which is a 2007 Honda Accord SE with around 200K miles on it. He wasn't hurt and there were no other cars involved. The car is pretty banged up and not worth much due to it's age and mileage. But I need a third car at least through the summer when he goes off to college. Options I have:
1) Fix the car - Body shop said it would require front and wheel axle assembly, front and rear wheels, new rotors, and new tires. Estimated cost is around $2,300-3,000. However, he has no way to know if the engine cradle is bent until he does the first set of work. If it is, that's a $1,500 part and 6 hours of labor to replace so I'm looking at more like $5K. That's well over the blue book value of the car in fair condition and doesn't address any of the cosmetic body damage to it. If it weren't for the possibility of a bent engine cradle, I'd probably take this option.
2) Sell it for scrap and buy a replacement - This car is for a teenage driver, so I really just need something that is safe and road worthy. A friend of mine has a 2008 Chevy Impala with 220K miles on it he wants to sell for $3,000 that isn't wrecked. I generally don't have a lot of faith in high mileage American made cars tho. I'm hearing the market for used cars is inflated at the moment and it would be very hard to replace the car I have with a similar vehicle for under $3,000. I don't really want to haggle on the price since it's a member of the family and not worth saving a couple hundred bucks to ruin a relationship. I haven't really priced other used cars, and my fear is getting one that has even bigger issues than the one I currently own. I'm guessing I could get $1,000 for the car in salvage, but I honestly don't know.
The last caveat is my son goes to college in September and doesn't "need" a car while he's there. My next child is only 15 and won't have a full license until May 2023, which is roughly when child #1 returns home. So I kinda just need a car for the next 4 months so he can get to/from his job, then I've got some time to figure out a solution for next summer.
Thoughts?
I wouldn't fix the old one.
If you really only want something that will last four or five months there have got to be cheaper options than that Impala.
On the other hand May of 2023 isn't all that far off, so another option would be to spend more and get a reliable car. Between now and next May you could drive it to work every other week so it doesn't just fall into disrepair. Then when child number two is ready to drive, the car would already be there. Save the trouble of car shopping twice; only downside is maybe twice the upfront expense right now.
"We are not provided with wisdom, we must discover it for ourselves, after a journey through the wilderness which no one else can take for us, an effort which no one can spare us, for our wisdom is the point of view from which we come at last to regard the world." --M. Proust